US dollar index stable as inflation data provides little clarity on rate hikes
A U.S. Labor Department report on Wednesday showed the annual increase in consumer prices dipped below 5% in April for the first time in two years. An inflation measure closely watched by the Federal Reserve also subsided, which could provide incentive for the central bank to pause further interest rate hikes next month.
The dollar index in afternoon trading was at 101.48, up 0.1% after hitting a low of 101.21 earlier - Image Source: Pixabay